13. Restriction on commission, broker-age, discount, etc., on sale of shares
Notwithstanding anything to the contrary contained in sections 105 and 105A of the Indian Companies Act, 1913, no banking company shall pay out directly or indirectly by way of commission, brokerage, discount or remuneration in any form in respect of any shares issued by it, any amount exceeding in the aggregate two and one-half per cent.of the paid-up value of the said shares.
